Wait people actually come to this airport? Thought it was outbound flights only.

I'd guess you probably already took your trip by now, but if not, or for anyone looking.

Most are right on, the Beachside at Goleta beach is about all you can get to in 3 hours. Security is pretty easy going and you should have no problem getting through with only one hour before departure. As mentioned, many times security isn't open until 45 minutes prior.

If you want to check out the campus, you can easily take a bus right from the airport (#25) for $1.75 and then return for $1.75, of course you'll have to be mindful of the bus schedule which is typically every 30 minutes in both directions. Walking to campus is probably pretty reasonable (airport to center of campus and back is about a 1 hour walk, maybe 1:15. Keep in mind that the general area until you get to campus or the beach is not very pedestrian friendly, there is no sidewalk, just a shoulder for the first half and a bikelane/path for the second (watch out for the crazy cyclists).

Walking to downtown goleta (which is mostly an industrial/commercial area) is about 20 minutes one way, and again not at all pedestrian friendly until you get to the city.

Elephant Bar is a great place to hang out, but as far as I know you would have to walk around the airport to get there which would be close to 30 minutes one way and again, not pedestrian friendly.

So yeah, Goleta Beach and the beachside restaurant for a meal or a few drinks and a casual stroll is about the best you could probably do. If you had a car you might be able to pull off a quick tour of downtown Santa Barbara and the pier there as long as you weren't trying to do it between about 4:00PM and 6:00PM.

Have fun, if you haven't already.